Citigroup Inc. Reiterates “Buy” Rating for Neurocrine Biosciences, Inc. (NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)‘s stock had its “buy” rating reissued by stock analysts at Citigroup Inc. in a note issued to investors on Thursday. They currently have a $79.00 price target on the stock. Citigroup Inc.’s price target would indicate a potential upside of 27.19% from the company’s current price.

Other research analysts also recently issued reports about the company. Piper Jaffray Companies restated a “buy” rating and issued a $76.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, October 25th. BidaskClub upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price target (up from $66.00) on shares of Neurocrine Biosciences in a research note on Tuesday, October 3rd. Needham & Company LLC restated a “buy” rating and issued a $58.00 price target on shares of Neurocrine Biosciences in a research note on Sunday, September 17th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.81.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 31st. The company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.36. The company had revenue of $60.77 million during the quarter, compared to the consensus estimate of $29.38 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share.

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In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 22,500 shares of Neurocrine Biosciences stock in a transaction on Friday, August 4th. The stock was sold at an average price of $50.00, for a total value of $1,125,000.00. Following the completion of the transaction, the insider now directly owns 154,601 shares of the company’s stock, valued at approximately $7,730,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dimitri E. Grigoriadis sold 15,354 shares of Neurocrine Biosciences stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $55.00, for a total value of $844,470.00. Following the completion of the transaction, the insider now directly owns 123,045 shares of the company’s stock, valued at $6,767,475. The disclosure for this sale can be found here. Insiders sold a total of 123,846 shares of company stock valued at $7,004,150 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas raised its holdings in Neurocrine Biosciences by 0.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,966 shares of the company’s stock valued at $320,000 after acquiring an additional 57 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Neurocrine Biosciences by 7.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after acquiring an additional 193 shares in the last quarter. Utah Retirement Systems raised its holdings in Neurocrine Biosciences by 1.9% in the 2nd quarter. Utah Retirement Systems now owns 16,000 shares of the company’s stock valued at $736,000 after acquiring an additional 300 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Neurocrine Biosciences by 5.6% in the 1st quarter. Nuveen Asset Management LLC now owns 14,464 shares of the company’s stock valued at $626,000 after acquiring an additional 763 shares in the last quarter. Finally, Aperio Group LLC raised its holdings in Neurocrine Biosciences by 3.7% in the 2nd quarter. Aperio Group LLC now owns 22,324 shares of the company’s stock valued at $1,027,000 after acquiring an additional 789 shares in the last quarter.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.

Analyst Recommendations for Neurocrine Biosciences (NASDAQ:NBIX)

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